Yahoo: 6 Reasons the Housing Market Hasn't Recovered
...with roughly one in four homeowners in negative equity-meaning they owe more on the mortgage than their property is worth-that can be tricky.
Friday, July 30, 2010
Housing Market Stalled
Have you noticed the spate of articles on the negatives of home ownership and the virtues of renting. Why is this occurring in a time when promoting the idea of home ownership is in sync with a recovering economy. Something larger is in play. Regardless, mortgage rates are amazingly low right now in the 4.5% area.
Yahoo: 6 Reasons the Housing Market Hasn't Recovered
Yahoo: 6 Reasons the Housing Market Hasn't Recovered
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4 comments:
The housing market after the great depression in the 30's took almost 25 yrs. to fully recover. It is going to take longer this time. As the baby boomers begin to retire many ( myself) included will eventually shed our family homes and either buy smaller houses or rent for the rest of our lives to lower expenses. This will leave huge over hangs of housing in many areas. Were I live however housing is still somewhat @ a premium because many boomers desire to retire here along the coast. If prices hold someday I might even be able to even retire.
Location, location, I'm hoping I have a desirable place as well. We have a great high school out here, people come here for the school system. Yes, the taxes reflect that as well.
The problem around here is that work opportunities are vanishing. The retirees don't need very much and most live on a budget and half aren't even around for part of the yr. The major employer locally the Casinos are also slowly withering on the vine.
I hear ya. We got a stable economy because its the state capital along with colleges, hospitals, small financial district, and some high tech stuff plus peripheral businesses. Albany itself is a dive. Horrible city in my opinion. But the surrounding areas are lovely actually, very New England.
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